Bitcoin It has seen a notable rise in prices since the beginning of the year, thanks in large part to the arrival of 2024 The bull ran for this market cycle. This rise in the price of Bitcoin has led to a huge amount of… Millionaire bitcoin wallets They are created daily.
Nearly 2,000 Bitcoin millionaire wallets are created daily
according to Data from Research company KAICO, just under 2,000 Bitcoin millionaire wallets are created daily. Interestingly, this number is still much lower than the number 2021 bull run When the value of more than 4,000 wallets reaches the $1 million mark daily, according to Kaiku. The research firm also claimed that more than 2,000 wallets reached $10 million daily in the recent bull market.
Kaiko noted that this is slowing down Market cycle It is likely that new capital has not yet entered the market in full force. They mentioned that too Big whales From the previous market cycle, they are also likely to continue taking profits as Bitcoin reaches new highs. Additionally, Caico claimed that whales are storing their holdings in custodians rather than personal wallets, which could be another reason behind the decline in the number of Bitcoin millionaire wallets.
However, millionaire Bitcoin wallets are expected to continue rising as this uptrend progresses. Cryptoanalysts love React Capital Owns And he expected This bull market will peak sometime in September or October of next year. Factors such as consent to Ethereum ETFs This is expected to lead to further rises for Bitcoin and altcoins.
Furthermore, it is expected that more crypto tokens will have their own ETFs this cycle, especially with the approval of Ethereum ETFs, which means more capital will flow into the cryptocurrency space. Meanwhile, the US elections are also expected to have a positive impact on this bull market with Donald Trump Indeed confirms His pro-encryption stance.
More Crypto Millionaires Into This Bull Run Thanks to Meme Coins
It is expected that more cryptocurrency millionaires will be created in this bull run than in previous races, thanks to Adoption level This category of cryptocurrencies is gaining ground this market cycle. This has led to a rise in the number of meme currencies being created daily, with cryptocurrency investors making significant money trading these currencies.
Earlier in the year, Bitcoinist mentioned About the Solana meme cryptocurrency trader who made nearly $11 million by investing $1,800 in… Dujoyvat (WIF) Meme coin. There was another group of Solana meme coin dealers mentioned To make $8 million in 24 hours with an initial investment of $6,400.
More recently, Bubblemaps has been used to track data on-chain open A trader made $2 million profit trading the Mother Iggy (MOTHER) meme coin, a token created by Australian rapper Iggy Azalea.
Featured image created with Dall.E, chart from Tradingview.com
